Caroline Pham, acting chair of the US Commodity Futures Trading Commission, is in discussions with regulated US crypto exchanges to introduce leveraged spot cryptocurrency products. The launch could occur as early as next month, according to a statement Pham made yesterday (Sunday) via X.
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In August, the CFTC launched an initiative to allow trading of spot crypto asset contracts on registered exchanges. The regulator invited public feedback on rules covering retail trading with leverage, margin, or financing.
CFTC Reviews Rules for Leveraged Crypto
Pham confirmed that she is advocating for leveraged spot crypto trading and continues to meet with industry representatives despite the ongoing government shutdown. The regulator is also reviewing guidance for leveraged spot crypto products.
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Under the Commodity Exchange Act, a retail commodity transaction executed on a leveraged or margined basis is under the CFTC CFTC The 1974 Commodity Exchange Act (CEA) in the United States created the Commodity Futures Trading Commission (CFTC). The Commission protects and regulates market activities against manipulation, fraud, and abuse trade practices and promotes fairness in futures contracts. The CEA also included the Sad-Johnson Agreement, which defined the authority and responsibilities for the monitoring of financial contracts between the Commodity Futures Trading Commission and the Securities and Exchange Commiss The 1974 Commodity Exchange Act (CEA) in the United States created the Commodity Futures Trading Commission (CFTC). The Commission protects and regulates market activities against manipulation, fraud, and abuse trade practices and promotes fairness in futures contracts. The CEA also included the Sad-Johnson Agreement, which defined the authority and responsibilities for the monitoring of financial contracts between the Commodity Futures Trading Commission and the Securities and Exchange Commiss Read this Term’s jurisdiction unless the transaction results in actual delivery of the commodity within 28 days. This means that leveraged crypto spot positions would only be permitted if their duration is limited to 28 days.
Senate Continues Crypto Market Structure Talks
The development comes amid broader uncertainty about US crypto regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term. In early October, the Securities and Exchange Commission limited its activity to emergency cases due to the shutdown.
Despite this, Senate lawmakers have reportedly continued discussions on legislation concerning crypto market structure rules.
CFTC Leadership Uncertainty Grows After Withdrawal
Meanwhile, the White House has withdrawn Brian Quintenz’s nomination to lead the U.S. Commodity Futures Trading Commission, ending a confirmation process that faced delays and opposition. Quintenz, a former commissioner, was nominated earlier this year to replace Pham.
He thanked the President and Senate Agriculture Committee and said he would return to the private sector. The nomination stalled amid Senate delays and industry pushback, including concerns from parts of the crypto sector.
